4 Major U.S. Economic Signals That May Impact Bitcoin's Trend
Bitcoin continues to hit new highs; however, during this ongoing upward trend, four U.S. economic signals this week will affect future price movements.
In addition to institutional influence, U.S. economic indicators can also determine whether Bitcoin's price will continue to rise or deviate from its upward potential.
U.S. Economic Signals to Watch This Week
Traders can capitalize on this week's macro-specific volatility by positioning themselves in advance or trading around the following events.
Latest CPI Index Dynamics
The U.S. Consumer Price Index may be the most important economic signal this week, scheduled for release on Tuesday, July 15. According to data, the inflation rate for June is expected to reach 2.7%, up from 2.4% in May.
The May reading marked the first CPI increase since February, indicating that if Tuesday's reading exceeds 2.4%, it will suggest a continuation of this trend.
If the June CPI exceeds 2.4%, the market may anticipate a tightening of Federal Reserve policy, which could put pressure on Bitcoin. Conversely, if it is below 2.4%, it may boost BTC due to expectations of earlier rate cuts and liquidity easing.
Nevertheless, a series of Federal Reserve officials scheduled to speak on the same day may exacerbate volatility, and investors will closely monitor their remarks for insights into the Fed's thinking.
Including Thursday's unemployment claims, labor market data steadily surpassing inflation will become the next macroeconomic catalyst for Bitcoin, significantly impacting price volatility. Everyone should wait for my instructions and avoid chasing highs or panic selling.
Secondly, the Consumer Confidence Index will be released on Friday, but the impact may not be significant, as the CPI has already been announced and the trend is established.
